Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 19 June 2023 8:23 pm

  On low volume US session, USD/JPY remains near cycle high

  

  The USD/JPY pair trades stable in the 141.80 area after hitting its highest point since November 2022. US Stock and bond markets are closed on Juneteenth celebrations.US economic data and Chair Powell’s statement on Wednesday will be watched closely. After reaching a multi-month high on Friday, the USD/JPY modestly dropped …

  Read More »
• 19 June 2023 7:38 pm

  EUR/USD under selling pressure in quiet week start

  

  The EUR/USD pair’s current price is 1.0921 at the time of writing amid signals by ECB policymakers concerning additional interest-rate hikes in the horizon.The EUR/USD pair is under mild selling pressure on Monday, easing from the 1.0970 multi-week high posted on Friday, to trade near the 1.0900 level. Markets in …

  Read More »
• 19 June 2023 3:52 pm

  Gold is losing some luster amid investors’ assessment of the path of US interest rates

  

  Gold recorded some decline in 19 limited transactions, Monday, June 19, under pressure from the strength of the dollar, as investors evaluate the future path of interest rates after the US Federal Reserve’s statements that hinted at future increases. Spot gold prices fell 0.2% to $1953.69 an ounce. US gold …

  Read More »
• 19 June 2023 1:29 pm

  Passenger car sales in China rose 26.4% in May

  

  Data showed that passenger car sales in China rose to 2.05 million units in May, up 26.4% year on year. Specifically, sales of SUVs, MPVs and crossovers in May expanded compared to the same period last year, according to data from the China Association of Automobile Manufacturers. During the period, …

  Read More »
• 19 June 2023 11:58 am

  European shares fall at open, Sartorius plunges on forecast cut

  

  European equities dipped at the opening bell on Monday, led by Franco-German lab equipment maker Sartorius, as investors expected additional stimulus measures from China to boost demand. By 0719 GMT, the pan-European STOXX 600 index had down 0.5%, while Germany’s DAX had fallen 0.4% after ending at a record high …

  Read More »
• 19 June 2023 10:57 am

  Faint gains for the dollar as traders analyze the path of interest rates

  

  The dollar felt its way on Monday, as investors continued to analyze the results of the central bank meetings witnessed last week, including the Bank of Japan’s decision to adhere to the monetary easing policy that keeps the yen weak. The dollar index, which measures the performance of the greenback …

  Read More »
• 19 June 2023 9:55 am

  Oil gives back earlier gains and banks cut growth forecasts in China

  

  Global oil prices fell on Monday, reversing gains made last week, as doubts about China’s economy overshadowed OPEC+ production cuts and the reduction in the number of oil and gas rigs operating in the United States for the seventh consecutive week. Brent crude fell 68 cents to trade at $75.93 …

  Read More »
• 19 June 2023 1:18 am

  Financial Markets’ Weekly Recap: June 12-16

  

  The macroeconomics situation of the US has generally improved better than anticipated and is likely to improve further. This is expected to reduce upward support on the dollar’s value.Although the June FOMC meeting gave the impression that hawkish policymakers were taking a break by raising the terminal rate for this …

  Read More »
• 17 June 2023 2:42 am

  Market Drivers – US Session – 16/06/2023

  

  After a volatile week that included many top monetary policy events including the Fed and the ECB meetings, as well as the US CPI data, next week will see interest rate decisions from the Bank of England and the Swiss National Bank. Key Data Market participants’ sentiment is mixed, as …

  Read More »
• 17 June 2023 2:03 am

  Oil achieves weekly gains on supply balance

  

  Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices. Brent crude gained 94 cents to settle at $76.61 a barrel, while US West Texas Intermediate (WTI) crude rose $1.16 to $71.78. Brent posted a weekly gain of 2.4% and WTI …

  Read More »
• 17 June 2023 1:40 am

  Could gold price climb after neutral weeks?

  

  Markets are eyeing Powell’s two-day testimony before the House and Senate next week, a lineup for Fed speakers, and more macro releases.Next week, gold will experience a lot of conflicting signals. More easing from China (commercial banks are reducing rates), Fed speakers, and flash PMIs. The market may theoretically still …

  Read More »
• 17 June 2023 12:43 am

  US stocks ticked down amid generally positive performance

  

  US equities fell on Friday as Wall Street wrapped up a busy week that saw investors receive a Federal Reserve pause on rate hikes as well as positive inflation data. The Dow Jones Industrial Average dropped 108.94 points, or 0.32%, to settle at 34,299.12 and the S&P 500 dipped 0.37 …

  Read More »
• 16 June 2023 11:01 pm

  USD/CAD to close on weekly decline amid hawkish Fed speaks

  

  The USD/CAD pair is expected to end a third consecutive week of decline as hawkish Fed speakers limit the pair’s upside potential. On Friday, the USD/CAD continued its downward momentum dropping to a low of 1.3188 and it is set to confirm a 100 pips weekly decline. At the time …

  Read More »